Lincare Holdings Inc. (LNCR) reported that its second-quarter net income was $47.9 million compared with net income of $42.8 million for the second quarter of 2011. Earnings per share were $0.56 for the quarter, a 25% increase over earnings per share of $0.45 for the comparable prior year period.
Net revenues for the latest quarter were $496.2 million, a 10.5% increase over net revenues of $449.0 million in the prior year quarter. The Company estimated that the 10.5% increase in net revenues in the second quarter of 2012 was comprised of approximately 11.0% internal and acquisition growth offset by approximately 0.5% negative impact from $2.1 million of Medicare payment reductions during the second quarter of 2012.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share on revenues of $503.38 million for the quarter. Analysts' estimates typically exclude special items.
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